A company placed $1,000,000 in three different accounts. It placed part in short term notes paying 4.5% per year, twice as much in government bonds paying 5%, and the rest in utility bonds paying 4%. The income after one year was $45,500. What are the three equations needed to set this problem up? How much did the company pay?
1 answer
Opps the last question was "How much did the company place in each account?"